Forecast for EUR/USD on November 15, 2021

In line with our expectations, the euro has slowed down in the target range of 1.1420/48. The signal line of the Marlin Oscillator shows the intention to turn up, and this may be a reversal convergence with the price. If the convergence takes place, then we are waiting for the medium-term growth of the euro.

analytics6191c439a8b6f.jpg

If the price settles below the lower border of the 1.1420 range, then the price's further development is not predictable (it can be a consolidation or a decline of any geometric shape, since the price invades the chaotic range of three years ago, at 1.1300-1.1450), until it reaches the target level of 1.1300 (August 2018 low), where the price will have another opportunity for a reversal.

analytics6191c4499ad06.jpg

On the four-hour chart, the price is moving along the 1.1448 level, the Marlin Oscillator is showing growth, but it is still in the negative trend zone, so it is still too early to talk about a reversal. But the situation will become more certain on Tuesday.

The material has been provided by InstaForex Company - www.instaforex.com

from RobotFX
- Need a custom expert advisor?
- Try the Complex Trader EA.

Share this:

Forward
Backward